$SWKS
SKYWORKS SOLUTIONS, INC.

2017 Q1 Form 10-Q Financial Statement

#000000412717000018 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q2
Revenue $851.7M $775.1M
YoY Change -8.1% 1.71%
Cost Of Revenue $426.3M $384.7M
YoY Change -6.25% -6.15%
Gross Profit $425.4M $390.4M
YoY Change -9.89% 10.85%
Gross Profit Margin 49.95% 50.37%
Selling, General & Admin $47.80M $44.00M
YoY Change -7.54% -7.17%
% of Gross Profit 11.24% 11.27%
Research & Development $89.40M $79.80M
YoY Change 9.69% 5.7%
% of Gross Profit 21.02% 20.44%
Depreciation & Amortization $62.90M $62.10M
YoY Change 22.14% 31.85%
% of Gross Profit 14.79% 15.91%
Operating Expenses $144.2M $132.7M
YoY Change 1.84% 0.3%
Operating Profit $281.2M $257.7M
YoY Change -14.92% 17.19%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $200.0K -$2.600M
YoY Change -125.0% -533.33%
Pretax Income $281.4M $255.1M
YoY Change -32.71% 15.69%
Income Tax $56.50M $47.00M
% Of Pretax Income 20.08% 18.42%
Net Earnings $224.9M $208.1M
YoY Change -36.7% 24.98%
Net Earnings / Revenue 26.41% 26.85%
Basic Earnings Per Share $1.22 $1.09
Diluted Earnings Per Share $1.20 $1.08
COMMON SHARES
Basic Shares Outstanding 184.8M shares 190.2M shares
Diluted Shares Outstanding 187.1M shares 193.3M shares

Balance Sheet

Concept 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.407B $1.178B
YoY Change 14.09% 11.7%
Cash & Equivalents $1.444B $1.178B
Short-Term Investments
Other Short-Term Assets $87.90M $77.30M
YoY Change 68.39% 8.26%
Inventory $444.5M $333.7M
Prepaid Expenses
Receivables $368.8M $538.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.308B $2.127B
YoY Change 9.15% 26.69%
LONG-TERM ASSETS
Property, Plant & Equipment $800.4M $837.7M
YoY Change -5.6% 27.74%
Goodwill $881.8M $856.7M
YoY Change 2.93% 0.67%
Intangibles $67.90M $37.00M
YoY Change 85.52% -36.43%
Long-Term Investments
YoY Change
Other Assets $55.40M $43.20M
YoY Change 172.91% 193.88%
Total Long-Term Assets $1.859B $1.831B
YoY Change 2.36% 12.05%
TOTAL ASSETS
Total Short-Term Assets $2.308B $2.127B
Total Long-Term Assets $1.859B $1.831B
Total Assets $4.167B $3.958B
YoY Change 6.01% 19.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $163.8M $180.7M
YoY Change -14.6% -21.77%
Accrued Expenses $50.90M $54.60M
YoY Change -11.32% -5.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $266.9M $324.7M
YoY Change -27.45% 8.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.50M $30.40M
YoY Change 19.92% -70.34%
Total Long-Term Liabilities $29.50M $30.40M
YoY Change 19.92% -70.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $266.9M $324.7M
Total Long-Term Liabilities $29.50M $30.40M
Total Liabilities $375.0M $414.9M
YoY Change -16.28% -7.74%
SHAREHOLDERS EQUITY
Retained Earnings $2.643B $1.934B
YoY Change 48.9% 74.68%
Common Stock $2.848B $2.670B
YoY Change 8.19% 9.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.690B $1.052B
YoY Change 84.38% 54.2%
Treasury Stock Shares
Shareholders Equity $3.792B $3.543B
YoY Change
Total Liabilities & Shareholders Equity $4.167B $3.958B
YoY Change 6.01% 19.47%

Cashflow Statement

Concept 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income $224.9M $208.1M
YoY Change -36.7% 24.98%
Depreciation, Depletion And Amortization $62.90M $62.10M
YoY Change 22.14% 31.85%
Cash From Operating Activities $228.7M $154.5M
YoY Change -33.77% -0.32%
INVESTING ACTIVITIES
Capital Expenditures -$54.90M -$37.40M
YoY Change -30.94% -55.48%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$54.90M -$37.40M
YoY Change -30.94% -63.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -117.4M -172.8M
YoY Change 54.07% 255.56%
NET CHANGE
Cash From Operating Activities 228.7M 154.5M
Cash From Investing Activities -54.90M -37.40M
Cash From Financing Activities -117.4M -172.8M
Net Change In Cash 56.40M -55.70M
YoY Change -70.25% -1395.35%
FREE CASH FLOW
Cash From Operating Activities $228.7M $154.5M
Capital Expenditures -$54.90M -$37.40M
Free Cash Flow $283.6M $191.9M
YoY Change -33.24% -19.71%

Facts In Submission

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CY2016Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
67000000 USD
CY2017Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
67900000 USD
CY2016Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
140400000 USD
CY2017Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
140300000 USD
CY2016Q3 us-gaap Inventory Net
InventoryNet
424000000 USD
CY2017Q1 us-gaap Inventory Net
InventoryNet
444500000 USD
CY2016Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
18500000 USD
CY2017Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
18400000 USD
CY2016Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
255500000 USD
CY2017Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
273700000 USD
CY2016Q3 us-gaap Liabilities
Liabilities
314000000 USD
CY2017Q1 us-gaap Liabilities
Liabilities
375000000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3855400000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4166800000 USD
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
210200000 USD
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
266900000 USD
CY2016Q3 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
71800000 USD
CY2017Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
78600000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-249000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-293200000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-116900000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
224900000 USD
us-gaap Net Income Loss
NetIncomeLoss
482700000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
132700000 USD
us-gaap Operating Expenses
OperatingExpenses
274300000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
144200000 USD
us-gaap Operating Expenses
OperatingExpenses
286200000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
257700000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
588200000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
281200000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
603100000 USD
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
77700000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
87900000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
52600000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
55400000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
900000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
300000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
300000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-700000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
17000000 USD
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
15500000 USD
CY2016Q3 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
9600000 USD
CY2017Q1 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
12100000 USD
CY2016Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
57500000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
52200000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
32000000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
29500000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2600000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3400000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
200000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-600000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
135100000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
201700000 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
700000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
2300000 USD
CY2016Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
51800000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
51800000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
103600000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
99400000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
104100000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
72400000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
44600000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
13700000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
116900000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
105000000 USD
CY2016Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2017Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
0 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
3200000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16300000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
31900000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1767800000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1873400000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
806300000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
800400000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
416600000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
368800000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
79800000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
161300000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
89400000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
171400000 USD
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
300000 USD
us-gaap Restructuring Charges
RestructuringCharges
300000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
600000 USD
CY2016Q3 us-gaap Restructuring Reserve
RestructuringReserve
2400000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1400000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
700000 USD
CY2017Q1 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
0 USD
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
0 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2263600000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2642600000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
775100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1701900000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
851700000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1766000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
44000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
95700000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
98700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
40400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
43700000 USD
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
3541400000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
3791800000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
2600000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1443500000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1689800000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
194000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
187100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
187200000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
190200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
190300000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
184800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
184800000 shares

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